Currently the definitions of Bumiputera company by the National Financial council according to the Treasury Circular no 7/74 are as follows:
A Company which the majority of the share (at least 51%) is owned by Bumiputra.
and majority (at least 51%) of the company workforce constitute of Bumiputra.
Or corporations or companies established by the federal or state governments and the subsidiaries of those agencies and companies meant for increasing the number of Bumiputera in trade and industry such as PERNAS, State Economic Development Corporations and their subsidiaries, subsidiaries of MARA etc.
Bumiputra Recognition
Companies which would like to apply for the Bumiputera status recognition should fulfill the conditions recorded in the Treasury Circular no. 7 year 1974, which are:-
Majority or at least 51% of members of the Board Of Directors are Bumiputra.
Majority or at least 51% of members of the management are Bumiputra .
Majority or at least 51% of shares are owned by Bumiputra.
Majority or at least 51% of workers (clerical and building site) are Bumiputra.
Class 'F' Contractors
All class F contractors are Bumiputra. This mean class F contractors are Bumiputra contractors and not need to apply for the recognition of their Bumiputra status.
